Guidelines for determination of tariff & SBD for ... - Ministry of Power
Guidelines for determination of tariff & SBD for ... - Ministry of Power
Guidelines for determination of tariff & SBD for ... - Ministry of Power
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Standard RFP <strong>for</strong> ….[Insert ‘medium’ or ‘long’, as applicable] term power procurement under Case - 1<br />
This BANK GUARANTEE shall be interpreted in accordance with the laws <strong>of</strong> India and the<br />
courts at …….. [Location to be inserted by Procurer/Authorized Representative] shall have<br />
exclusive jurisdiction.<br />
The Guarantor Bank represents that this BANK GUARANTEE has been established in such<br />
<strong>for</strong>m and with such content that it is fully en<strong>for</strong>ceable in accordance with its terms as against<br />
the Guarantor Bank in the manner provided herein.<br />
This BANK GUARANTEE shall not be affected in any manner by reason <strong>of</strong> merger,<br />
amalgamation, restructuring, liquidation, winding up, dissolution or any other change in the<br />
constitution <strong>of</strong> the Guarantor Bank.<br />
This BANK GUARANTEE shall be a primary obligation <strong>of</strong> the Guarantor Bank and<br />
accordingly the Procurer(s) shall not be obliged be<strong>for</strong>e en<strong>for</strong>cing this BANK GUARANTEE<br />
to take any action in any court or arbitral proceedings against the Successful Bidder/Seller, to<br />
make any claim against or any demand on the Successful Bidder/Seller or to give any notice to<br />
the Successful Bidder/Seller or to en<strong>for</strong>ce any security held by the Procurer(s) or to exercise,<br />
levy or en<strong>for</strong>ce any distress, diligence or other process against the Successful Bidder/Seller.<br />
The Guarantor Bank acknowledges that this BANK GUARANTEE is not personal to the<br />
Procurer(s) and may be assigned, in whole or in part, (whether absolutely or by way <strong>of</strong><br />
security) by the Procurer(s) to any entity to whom it is entitled to assign its rights and<br />
obligations under the PPA.<br />
The Guarantor Bank hereby agrees and acknowledges that the Procurer(s) shall have a right to<br />
invoke this Bank Guarantee either in part or in full, as it may deem fit.<br />
Notwithstanding anything contained hereinabove, our liability under this Guarantee is<br />
restricted to Rs. ………………….. crores (Rs. ………………….. crores only) and it shall<br />
remain in <strong>for</strong>ce until ………………………[Date to be inserted on the basis <strong>of</strong> Article<br />
…………….<strong>of</strong> PPA], with an additional claim period <strong>of</strong> thirty (30) days thereafter. This<br />
BANK GUARANTEE shall be extended from time to time <strong>for</strong> such period, as may be desired<br />
by …………………………………….. [Insert name <strong>of</strong> the Successful Bidder/Seller]. We are<br />
liable to pay the guaranteed amount or any part there<strong>of</strong> under this Bank Guarantee only if the<br />
Procurer(s) serves upon us a written claim or demand.<br />
In witness where<strong>of</strong> the Bank, through its authorized <strong>of</strong>ficer, has set its hand and stamp on this<br />
…………….. day <strong>of</strong> ……………………… at …………………….<br />
Witness:<br />
1. ……………………………………. Signature<br />
Name and Address. Name:<br />
2. ………………………………….. Designation with Bank Stamp<br />
Name and Address<br />
Attorney as per power <strong>of</strong> attorney No. …………………<br />
………..[Insert name <strong>of</strong> Procurer / Authorized Representative ] Page 123